“Doing Business with Romania” is the title of the second virtual meeting of the series of webinars “Road-Show WEBINAIRES EXPORT: DOING BUSINESS 2023” organized by the Moroccan Association of Exporters (ASMEX), on Tuesday, February 14, 2023. This meeting is part of the support strategy dedicated to ASMEX member companies in order to observe more closely the different investment and export opportunities offered by the two countries in various sectors. This conference was moderated by Mr. Brahim Allali, expert in corporate internalization strategy.
As the Romanian market is one of the largest high-potential markets in Eastern Europe, ASMEX plans to organize a business mission to Bucharest next May, in order to enable contractors and Romanian and Moroccan operators to meet and develop economic cooperation through Win-Win partnerships.
In this sense, Mr. Brahim Allali reported on the major key facts and figures of the Romanian market, mentioning that Romania is a strategic market for Moroccan companies wishing to export to Eastern Europe. Due to its geographical position (5 border countries, maritime opening on the Black Sea), its very high growth rate with a percentage of 6.5% in 2022, as well as its membership of the EU since 2005. It presents several opportunities for Moroccan exporters and investors. All with a population density estimated at more than 21 million inhabitants spread over a total area of 380,000 km², and thousands of companies with varied needs, which has made it an export market. of choice for companies, both for consumer goods and capital goods.
Mr. Allali pointed out that the Romanian market is full of important natural resources with high export potential, such as the oil and gas industry, timber, coal, iron, salt, and hydroelectricity which present countless opportunities for Moroccan investors and importers.
In terms of emerging sectors in Romania, it should be noted that for the last 20 years, Romania has been the main electronics producer in the CEEC region (Central and Eastern European Countries), thus positioning itself as a center major for industries like: mobile technology; information security and related hardware research, and motor vehicle production.
“In addition to its large internal market, Romania has a strong industrial tradition, combined with one of the lowest labor costs in the EU and a well-educated workforce. This is the reason for the development of an important industrial sector, in particular car manufacturing, but also services. Expresses Mr. Allali.
Regarding Romania’s foreign trade, the country mainly exports raw materials and imports finished products, with an export volume of Agri/Agro products of 9.5 billion euros, while its imports are 10.1 Billions. However, the country experienced a shortage of processed products following the war in Ukraine, especially for products such as sugar, BVP products, dairy products and fresh fruits and vegetables.
It should be noted that Romania’s main trading partners during the year 2022 are Germany, Italy, Hungary and France, with trade consisting mainly of food products such as corn, wheat and seeds of sunflower, as well as products relating to the automotive industrial sector such as parts of vehicles, passenger cars, insulated conductors for electricity, etc.).
Compared to trade between Morocco and Romania, trade operations remain timid and insufficient, but the development potential is considerable and the two countries are determined to strengthen their economic and trade cooperation.
Moreover, Romania’s main assets as an attractive destination for investment begin with its GDP index estimated at more than $219.1 billion in 2022 with an annual growth rate of 6.5%. But also by:
Its accession to the EU which has enabled it to improve the country’s international relations.
The implementation of prudent monetary measures has enabled the country to regain the confidence of foreign investors.
A strong and solid agri-food industry.
Low energy dependence on coal, oil, gas and uranium.
A total of 96 industrial park infrastructures offering companies access to public services and certain special advantages depending on their field of activity, as well as exemptions from property, construction and urban planning taxes.
Qualified and cheap labour.
